Harley-Davidson has invested in a Silicon Valley startup that makes lightweight electric motorcycles. The announcement was made Thursday will also allow Harley to work with Brisbane, California-based Alta Motors to develop new electric vehicles. The companies did not disclose any financial details of the investment.
The deal aligns with Harley’s strategy to attract the next generation of Harley riders who may be drawn to the ease of riding electric motorcycles that have no gears or clutch.
Harley plans to invest $25 million to $50 million annually over the next several years to develop electric motorcycle technology.
Harley-Davidson is already planning to launch its own electric motorcycle next year.